HDFC Life Guaranteed Wealth Plus 101N165V06 Policy Document

HDFC Life Guaranteed Wealth Plus – Terms and Conditions
(A Non-Linked Non-Participating Individual Life Insurance Savings Plan)
PART A: Covering Letter with Policy Schedule

__________________ <dd-mm-yyyy>
__________________
__________________
__________________
__________________
__________________
Policy Number: __________________
Your <Policy Name> with Policy No. <Policy no.>
Dear Mr./Ms.___________________________,
Thank you for choosing HDFC Life Insurance as your preferred life insurance solution provider.
We are pleased to enclose your Policy Bond, which carries the following details of your HDFC Life Insurance Policy:
 Policy Schedule : Summary of key features of your HDFC Life Insurance Policy
 Premium Receipt : Acknowledgement of the first Premium paid by you
 Terms & Conditions : Detailed terms of your Policy contract with HDFC Life Insurance
 Service Options : Wide range of Policy servicing options that you can benefit from
We request you to carefully go through the information given in this document. You are also advised to keep the Policy Bond with
utmost care and safety.
You shall have a period of ___ days from the date of receipt of the Policy document to review the terms and conditions of this
Policy and in case of disagreements with the said terms and conditions, an option to return the Policy to the Company for
cancellation can be exercised, stating the reasons for objections. Upon such Free-Look cancellation, the Company shall return the
Premium paid subject to deduction of a proportionate risk Premium for the period of insurance cover in addition to the stamp duty
charges. All Benefits and rights under this Policy shall immediately stand terminated on the cancellation of the Policy.
For any assistance, please feel free to contact our customer service team at onlinequery@hdfclife.in or call our toll free number
1800 266 9777. You can also get in touch with us via social media:
https://plus.google.com/+hdfclife/
https://www.youtube.com/user/hdfclife10
http://www.linkedin.com/company/19117
https://twitter.com/HDFClife
https://www.facebook.com/HDFClife
Thank you for giving us the opportunity to help you prepare for a long and happy life.
Yours sincerely,
<< Designation of the Authorised Signatory >>
Your Financial Advisor Contact Details
Branch Address: <<Branch Address>>

Agency/Intermediary Code: <<Agency/Intermediary Code>>
Agency/Intermediary Name: <<Agency/Intermediary Name>>
Agency/Intermediary Telephone Number: <<Agency/Intermediary mobile & landline number>>
Agency/Intermediary Contact Details: <<Agency address>>
Page 1 of 28
A.1. Policy Preamble
HDFC Life Guaranteed Wealth Plus is a non-linked, non-participating individual life insurance savings plan. A non-
participating Plan does not entitle the Policyholder to any share in the surplus (profits) of the Company. The Terms and
Conditions and the Policy Schedule are issued based on the Proposal form submitted by the Life Assured / Policyholder.
A.2. Policy Schedule
Name of the Product: HDFC Life Guaranteed Wealth Plus

UIN of the Product 101N165V06
Policy Number
Date of the Proposal
Policy Commencement Date
Risk Commencement Date
Policy Maturity Date
Auto Vesting if Life Assured is minor <<Yes/No>>
Variant Name <<Lump sum Variant / Income Variant>>

Basic Sum Assured
Sum Assured on Death during the Premium Payment Term
Sum Assured on Death after the Premium Payment Term
Guaranteed Income (for Income Variant) <<Amount>>
First Guaranteed Income Date (if Income Variant)
Last Guaranteed Income Date (if Income Variant)
Maturity Benefit
Sum Assured
Description Premium Cessation Date
(INR)
« << «
Rider (s) « »
» >> »
« << «
« »
» >> »
UIN of the Rider(s)
Premium Amount
Frequency of Premium Payment <Annual> <Half – Yearly> <Monthly> <Single>

Due Date of Premium Payment
Premium Payment Term
Policy Term
Payout Term
Guaranteed Income payout Mode <<Annually/ Half - Yearly / Quarterly / Monthly>>
Date of Last Installment Premium

Name and Address of the Policy Holder «sownername»
Page 2 of 28
«address1»
«address2»
«address3»
«address4»
«address5»
Date of Birth of the Policyholder
«LAname»
«address1»
«address2»
«address3»
Name and Address of the Life Assured
«address4»
«address5»
Gender of Life Assured

Age of Life Assured At Entry
Date of Birth
Whether Age admitted?
Name of Age of Relations
Gender of Proportion
Nominee Nominee/ hip to Life
Nominee (%)
/(s) (s) Assured
Name of Nominee/(s) and relationship to Life Assured
Name of Appointee, If Nominee is Minor Relationship of

Appointee with Nominee
Date of Birth of Appointee
Age of Appointee
Gender of Appointee
«ZENDFLD_001»
«ZENDFLD_002»
Special Conditions «ZENDFLD_003»
«ZENDFLD_004»
«ZENDFLD_005»
Stamp Duty of Rs. «ADDAMT» /- is paid as provided under Article 47D(iii) of Indian Stamp Act, 1899 and
included in Consolidated Stamp Duty Paid to the Government of Maharashtra Treasury vide Order of Addl.
Controller Of Stamps, Mumbai at General Stamp Office, Fort, Mumbai - 400001., vide this Order
No.(_/_/_/_/Validity Period Dt.__ To Dt.__ (O/w.No.__)/Date: __/_/__).
The Modal Premium shown in the Policy Schedule above is exclusive of Goods and Services Tax (GST). GST
at the applicable rates will be charged on Premiums paid.
«Legend_schedule»«ADDAMT»
Page 3 of 28
PART B
Important Terms and Definitions
DEFINITIONS
In this Policy, unless the context requires otherwise, the following words and expressions shall have the meaning ascribed to them
respectively herein below:
1. Age shall be Age of Life Assured at Policy Commencement Date as at last birthday i.e. the Age in completed years and is
recorded in the Policy Schedule based on the details provided by the Policyholder.
2. Annualized Premium is defined as the Premium amount payable in a year chosen by the Policyholder excluding the taxes,
rider premiums, Underwriting Extra Premiums and loadings for modal Premiums, if any.
3. Assignee is the person to whom the rights and Benefits under this Policy are transferred by virtue of an Assignment.
4. Assignment is the process of transferring the rights and Benefits to an “Assignee,” in accordance with the provisions of
Section 38 of Insurance Act, 1938, as amended from time to time.
5. Assignor means the person who transfers the rights and Benefits under this Policy to the Assignee.
6. Basic Sum Assured means sum total of Annualized Premium payable during the Policy Term and as specified in the Policy
Schedule.
7. Benefit/s means the Death Benefit, Maturity Benefit, Survival Benefit, Surrender Benefit, or any other Benefit as applicable
under the terms of this Policy.
8. Eligible Person means the Policyholder, including assignees under Section 38 of the Insurance Act, 1938, as amended from
time to time, or Nominees under Section 39 of the Insurance Act, 1938, as amended from time to time, or proving executors
of administration or other legal representatives, as per the applicable Regulations.
9. Grace Period means the time granted by the Company from the due date for the payment of Premium without levy of any
interest or penalty during which time the Policy is considered to be In Force. The Grace Period so granted is fifteen (15) days
for monthly Premium payment mode and thirty (30) days for other available Premium payment modes from the respective
Premium payment due date.
10. Guaranteed Income if the Policyholder has chosen the ‘Income Variant’ means a series of annual payouts as specified in
the Policy Schedule, calculated as a fixed percentage of the Annualized Premium shall be payable as per the Guaranteed
Income Payout Mode selected by the policyholder during the Payout Term as per Clause C.3.2.
11. Guaranteed Income Payout Mode / Payout Frequency means the frequency in which survival benefits under Income
Variant will be paid to the Policyholder as specified in the Policy Schedule. The Policyholder will have an option to change the
payout frequency on any policy anniversary. This shall be allowed only on policy anniversary subject to receipt of written
request from the Policyholder 60 days prior to such policy anniversary.
12. Lapse means a non-active life insurance contract on account of nonpayment of Premium within the Grace Period.
13. In Force means the status of the Policy being active, all due Premiums have been paid and the Policy is not terminated.
14. Life Assured means the person named as such in the Policy Schedule, on whose life the Policy has been taken in terms
hereof.
15. Maturity Benefit means the Benefit payable as lump sum on Policy Maturity Date and is as specified in the Policy Schedule.
It is payable subject to Life Assured surviving the Policy Term and the Policy being In Force in accordance with the terms and
conditions of this Policy. It is calculated as per the provisions mentioned in Clause C.2.
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16. Nomination is the process of nominating a person(s) in accordance with provisions of Section 39 of the Insurance Act, 1938
as amended from time to time
17. Nominee/s means the person/(s) named in the Policy Schedule who has/have been nominated by the Policyholder (who is
also the Life Insured in the Policy) in accordance with the Section 39 of the Insurance Act, 1938 as amended from time to
time to receive the benefits in respect of this Policy.
18. Policy means the contract of insurance entered into between the Policyholder and the insurer as evidenced by the Policy
Document.
19. Policyholder shall mean the owner of this Policy and is referred to as the proposer in the Proposal form and is named as
such in the Policy Schedule.
20. Policy Commencement Date / Date of Inception of the Policy is the Date, Month and Year the Policy comes into effect
and is as specified in the Policy Schedule.
21. Policy Document means and includes the necessary document, the Annexure, the signed Proposal form, the Policy Schedule
and any attached endorsements or supplements together with all addendums.
22. Policy Maturity Date means the date of completion of the Policy Term as specified in the Policy Schedule.
23. Policy Schedule means the Schedule issued by the Company that sets out the details of this Policy and is attached to and
forming part of this Policy.
24. Policy Term means the tenure of this Policy as specified in the Policy Schedule.
25. Policy Year means a period of twelve (12) consecutive months starting from the Policy Commencement Date and ending on
the day immediately preceding the following Policy anniversary date and each subsequent period of twelve (12) consecutive
months thereafter.
26. Premium/s means the contractual amount payable by the Policyholder in a Policy Year on the due date as set out in the
Policy Schedule to secure the Benefits under this Policy. Applicable tax, cess and other levies if any are payable in addition.
27. Premium Payment Term (PPT) means the period in years during the Policy Term in which Premiums are payable by the
Policyholder under the Policy, as specified in the Policy Schedule.
28. Proposal means the proposal form submitted to the Company for issuance of this Policy.
29. Regulations mean the laws and Regulations in effect as amended from time to time and applicable to this Policy, including
without limitation the Regulations and directions issued by the Insurance Regulatory and Development Authority of India
(IRDAI) from time to time. The applicable Regulation shall form a part and parcel of the terms and conditions, and the terms
and conditions shall be read along with the Regulation.
30. Revival means restoration of the Policy, which was discontinued due to non-payment of the Premium, by the Company with
all the Benefits mentioned in the terms and conditions, with or without Rider Benefits, if any upon receipt of all the Premiums
due and other charge/late fee if any, as per the terms and conditions of the Policy, upon being satisfied as to the continued
insurability of the Life Assured/Policyholder on the basis of the information, documents and reports furnished by the
Policyholder, in accordance with the board approved underwriting guidelines.
31. Revival Period shall mean the period of five years from the due date for payment of the first unpaid Premium during which
the Policyholder is entitled to revive the Policy for full Benefits, as provided in terms of Clause D.2.
32. Risk Commencement Date/Date of Commencement of Risk means the date from which risk is assumed by the
Company and as specified in the Policy Schedule.
33. Sum Assured on Death means an absolute amount of Benefit which is guaranteed to become payable on the event of
death of the Life Assured in accordance with the terms and conditions of the Policy and is specified as such in the Policy
Schedule or such amount as may be endorsed on the Policy.
Page 5 of 28
34. Surrender means complete withdrawal/termination of the entire Policy by the Policyholder in accordance with the terms of
the Surrender.
35. Surrender Value means an amount, if any, that becomes payable in case of Surrender, in accordance with the terms and
conditions of the Policy as mentioned in Part D.
36. Survival Benefit/s means the Benefit/s and amount/s that are payable on survival of Life Assured as specified in Clause C.3
37. Total Premiums Paid means total of all the Premiums received, excluding any extra Premium, any rider premium and taxes.
38. Underwriting Extra Premiums shall mean any Premium charged in addition to standard Premium which is based on
underwriting and as intimated to the Policyholder at the time of inception of the Policy.
39. “We”, “Us”, “Our” and "Company" refers to HDFC Life Insurance Company Limited.
40. “You”, “Your”, “He” and “She” refers to the Policyholder.
Page 6 of 28
PART C
PRODUCT CORE BENEFITS
BENEFITS PAYABLE UNDER THIS POLICY
C.1. Death Benefit: Subject to terms and conditions of this Policy and the Policy remaining In Force (not in Lapse mode) as on
the date of the death of the Life Assured (after the Risk Commencement Date but before the end of the Policy Term), the Company
shall pay Sum Assured on Death to the Nominee / Assignee after deducting the Premiums, if any due for the Policy Year in which
the death has occurred. In the event of death claim during the Grace Period, the Company shall pay the Death Benefit subject to
the deduction of any Premium which is unpaid as on the date of death.
The Policy will terminate on payment of Death Benefit in the event of death of Life Assured.
C.1.1. Sum Assured on Death: Sum Assured on Death is calculated as highest of the following:
 ‘X’* times the Annualized Premium for limited pay and 1.25 times the single premium for Single Premium Payment option
for base policy or
 105% of the total premiums received up to the date of death;
C.1.1.1. For limited pay the multiple of ‘X’ times is defined as follows for:
 Lump sum variant throughout the Policy Term, &
 Income variant during the Premium Payment Term
Age Sum Assured on Death Multiple Age Sum Assured on Death Multiple
0 15.7 31 12.9
1 15.7 32 12.8
2 15.7 33 12.7
3 15.7 34 12.6
4 15.6 35 12.5
5 15.5 36 12.4
6 15.4 37 12.3
7 15.3 38 12.2
8 15.2 39 12.1
9 15.1 40 12
10 15 41 11.9
11 14.9 42 11.8
12 14.8 43 11.7
13 14.7 44 11.6
14 14.6 45 11.5
15 14.5 46 11.4
16 14.4 47 11.3
17 14.3 48 11.2
18 14.2 49 11.1
19 14.1 50 11
20 14 51 10.9
21 13.9 52 10.8
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22 13.8 53 10.7
23 13.7 54 10.6
24 13.6 55 10.5
25 13.5 56 10.4
26 13.4 57 10.3
27 13.3 58 10.2
28 13.2 59 10.1
29 13.1 60 10
30 13 - -
C.1.1.2. For Income Variant post Premium Payment Term, the Sum Assured on Death multiple ‘X’ is defined as follows:
Entry Age Sum Assured on Death Multiple (X)

Up to 60 years 10 or 7 times, as chosen by the Policyholder at Date of Inception of Policy
C.2. Maturity Benefit: Subject to the terms and conditions of this Policy and Policy remaining In Force, the Maturity Benefit
shall be payable to the Policyholder / Assignee as per the Variant chosen by the Policyholder at the Policy Commencement Date.
C.2.1. Variant 1: Lump sum Variant: Subject to the terms and conditions of this Policy and Policy remaining In Force, a lump
sum amount shall be payable to the Policyholder/Assignee at the end of the Policy Term, in case the Lump sum Variant is chosen
by the Policyholder at the Policy Commencement Date as mentioned in the Policy Schedule.
Under this Variant, the Policyholder will either pay a single premium or the Annualized premium till the end of the Premium
Payment Term and will receive a fixed percentage of either the single premium or the total Annualized Premiums payable under
the Policy as lump sum maturity benefit at the end of Policy Term. The maturity benefit payable at the end of Policy Term is
mentioned in the Policy Schedule.
C.2.2. Variant 2: Income Variant: Subject to the terms and conditions of this Policy and Policy remaining In Force, a lump sum
amount shall be payable to the Policyholder/Assignee at the end of Policy Term, in case Income variant is chosen by the
Policyholder at the Policy Commencement Date as mentioned in the Policy Schedule.
Maturity Benefit under this variant will be equal to 100% of the Total Premiums Paid during the Policy Term.
C.3. Survival Benefit
C.3.1. Variant 1: Lump sum Variant: No Survival Benefit shall be payable during the Policy Term under this variant.
C.3.2. Variant 2: Income Variant : Subject to the terms and conditions of this Policy and Policy remaining In Force, the Survival
Benefits shall be payable by the Company to the Policyholder / Assignee subject to the survival of Life Assured during the Policy
Term. Survival Benefits shall be paid as Guaranteed Income in arrears as per the Payout Frequency chosen by Policyholder during
the Payout Term. The Guaranteed Income payout shall commence from 7th, 8th, 9th, 10th, 12th and 14th Policy Year in arrears
for 5, 6, 7, 8, 10 and 12 Pay policies respectively and shall continue till the end of Policy Term. In case of death of the Life Assured
during Policy Term and before Policy Maturity Date, the future installments of Guaranteed Income, if any, shall cease and Death
Benefit shall be payable by Company, as mentioned in Clause C.1. Guaranteed Income paid, if any, after the date of death of the
Life Assured shall be deducted from the Benefits payable on death of Life Assured.
The Guaranteed Income is calculated as a fixed percentage of Annualized Premium. Guaranteed Income amount payable is
mentioned in the Policy Schedule.
Page 8 of 28
C.4. Rider Benefits:
If any Riders are opted and attached to this Policy as specified in the Policy Schedule or in the Rider Endorsement Letter, the Rider
Benefit shall become eligible, subject to the Rider terms and conditions.
C.5. Premium under this Policy:
C.5.1. Payment of Premiums: This Policy is issued subject to the Policyholder making regular payment of Premium for the Premium
Payment Term as mentioned in the Policy Schedule and it shall be the responsibility of the Policyholder to ensure regular payment of
the Premium.
In the event the Policyholder makes a choice of monthly premium payment mode, three (3) months premiums shall be collected
in advance on the date of commencement of the Policy and adjusted towards the Policy only on the due dates. These advance
premiums shall be non-refundable, except in case of Free Look Cancellation of this Policy.
C.5.2. Payment of Advance Premiums: Collection of advance Premium shall be allowed within the same financial year for the
Premium due in that financial year. However, where the Premium due in one financial year is being collected in advance in earlier
financial year, Premium for maximum period of three months in advance of the due date shall be collected. The Premium so
collected in advance shall only be adjusted on the due date of the Premium.
C.6. Payment of Benefits:
C.6.1. Payment of the Benefits under this Policy shall be subject to deduction of any unpaid Premium due for the Policy Year of
death.
C.6.2. Payment of all the Benefits as shown in the Policy Schedule shall be subject to receipt of proof by the Company to its
satisfaction:
C.6.2.1. of the Benefits having become payable as set out in this Policy; and
C.6.2.2. of the title of the person or persons claiming the Benefits; and
C.6.2.3. of the correctness of the Age of the Life Assured as stated in the Proposal, if not previously admitted.
C.7. Mode of payment of Benefits:
C.7.1. All Benefits and other sums under this Policy shall be payable in the manner and currency allowed/permitted under the
Regulations and shall be payable by NEFT, account payee cheque or other permissible modes.
C.7.2. The Company shall pay the applicable Benefits and other sums payable under this Policy. Any discharge given by the
Eligible Person, in writing in respect of the Benefits or the sums payable under this Policy shall constitute a valid discharge
to the Company in respect of such payment. The Company’s liability under the Policy shall be discharged by such payment.
C.7.3. Apart from the Benefits mentioned hereinabove in part C the Company shall not be liable to pay any other Benefits to
the Eligible Person.
C.8. Grace Period:
A Grace Period of fifteen (15) days for policies with monthly Premium payment mode and thirty (30) days for other available
regular Premium payment modes from the Premium payment due date shall be allowed for payments of each Premium. The
regular Premiums are payable on the due date for payment and in any case not later than the Grace Period. During the Grace
Period, the Policy shall continue to be In Force for availing the Death Benefit.
The Company shall pay the Death Benefit for death during Grace Period, subject to the deduction of the premiums due as well as
balance premiums for the Policy Year, if any under the Policy.
If unpaid premiums are not paid within the Grace Period, the Policy shall be subject to non-forfeiture provision as mentioned in
Clause D.3.
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PART D
POLICY SERVICING RELATED ASPECTS
D.1. Free Look Provisions:
The Policyholder shall have a period of 15 days from the date of receipt of the Policy document to review the terms and
conditions of this Policy and if the Policyholder disagrees with the said terms and conditions, the Policyholder shall have
the option to return the Policy to the Company for cancellation, stating the reasons for His objections. Upon such Free-
Look cancellation, the Company shall return the Premium paid subject to deduction of a proportionate risk Premium for
the period of insurance cover and medical examination fees (if any) in addition to the stamp duty charges. All Benefits
and rights under this Policy shall immediately stand terminated on the cancellation of the Policy.
The Policyholder shall have a period of 30 days if the Policy is sourced through Distance Marketing# from the date of
receipt of the Policy document to review the terms and conditions of this Policy and if the Policyholder disagrees with the
said terms and conditions, the Policyholder shall have the option to return the Policy to the Company for cancellation,
stating the reasons for His objections. Upon such Free-Look cancellation, the Company shall return the Premium paid
subject to deduction of a proportionate risk Premium for the period of insurance cover and medical examination fees (if
any) in addition to the stamp duty charges. All Benefits and rights under this Policy shall immediately stand terminated
on the cancellation of the Policy.
# Distance Marketing includes every activity of solicitation (including lead generation) and sale of insurance products
through the following modes: (i) voice mode, which includes telephone-calling (ii) short messaging service (SMS) (iii)
electronic mode which includes e-mail, internet and interactive television (DTH) (iv) physical mode which includes direct
postal mail and newspaper and magazine inserts and (v) solicitation through any means of communication other than in
person.
Mode change: There is an option to change premium payment mode between monthly, half-yearly and annual option.
There is no explicit charge levied for change in the premium payment mode.
D.2. Revival of the Policy:
D.2.1. Subject to the approval of the Company and the prevailing board approved underwriting Policy, this Policy, if lapsed, may
be revived for full Benefits before the Policy Maturity Date but within five years from the due date for payment of the first
unpaid Premium provided that;
D.2.1.1. This Policy has not been surrendered for cash;

D.2.1.2. No claim has arisen under this Policy;
D.2.1.3. Where required by the Company, a written application for Revival/ is received from the Policyholder by the
Company, together with evidence of insurability and health of the Life Assured, to the satisfaction of the Company;
and
D.2.1.4. All amounts necessary to revive this Policy including all arrears Premiums with interest/Revival charge is set as
per the formula below and is subject to IRDAI’s approval:
The current rate of interest is 9.50% p.a. Any change in the revival interest rates will be in accordance with the
following formula: Average Annualised 10-year benchmark G-Sec Yield (over last 6 months & rounded upto the
nearest 50 bps) + 2%.During revival campaigns, the company may offer reduced interest rates subject to the
rules of the special revival campaign. The rebates offered during the revival campaign may vary from year to
year. The maximum interest rate rebate may be set up to the prevailing revival interest rate. Any change on
basis of determination of interest rate for revivals can be done only after prior approval of the Authority.
D.2.2. Notwithstanding anything to the contrary contained elsewhere in this Policy, the Company reserves the right to revive the
lapsed Policy either on its original terms and conditions or on such other or modified terms and conditions as the Company
may specify or to reject the Revival. If needed the Company may refer it to its medical examiner in deciding on Revival of
lapsed Policy. Subject to the provisions of Clauses D.2.1 above, the Revival shall come into effect on the date when the
Company specifically communicates it in writing to the Policyholder.
Page 10 of 28
D.2.3. If the Policy is not revived for full Benefits before the Policy Maturity Date but within five years from the due date for
payment of the first unpaid Premium and if the Policy has not acquired Guaranteed Surrender Value, then the Policy will
terminate.
D.3. Non-Forfeiture options:
Forfeiture: For Policies with limited pay if at least first 2 full years’ Premiums have not been paid, the Policy will lapse on
the expiry of Grace Period until the Policy is revived for full Benefits within the Revival Period. A single Premium Policy will
never lapse.
Non-Forfeiture: For Policies with limited pay if at least 2 full years’ Premiums have been paid and if any subsequent
Premium which is due has not been paid, the Policyholder will be eligible for reduced paid-up value as explained in Section
D.3.1. and Surrender Value as explained in Section D.3.2.
Reduced paid-up value is not applicable for a single Premium Policy.
D.3.1. Reduced Paid-up Value
Except for single Premium Policies if at least 2 full years’ Premiums have been paid and no further Premiums are paid and
the Policy is not surrendered, then the Policy will be eligible for a non-forfeiture Benefit, which shall be Reduced Paid-up
Value described as provided below:
Reduced Paid-up Death Benefit– Reduced Paid-Up Death Benefit shall be paid as a lump sum amount on death of Life
Assured during the Policy Term and is calculated as per the formula given below
𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

𝑥 𝑆𝑢𝑚 𝐴𝑠𝑠𝑢𝑟𝑒𝑑 𝑜𝑛 𝐷𝑒𝑎𝑡ℎ
𝑇𝑜𝑡𝑎𝑙 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒
Reduced Paid-up Survival Benefit
For Lump sum Variant – Not applicable
For Income Variant
On survival of Life Assured during the Policy Term, a reduced Guaranteed Income is payable in arrears as per the Payout
Frequency chosen by Policyholder during the Payout Term. Guaranteed Income will commence from 7th, 8th, 9th, 10th,
12th & 14th Policy Year in arrears for 5, 6, 7, 8, 10 and 12 Pay policies respectively and is payable till the end of Policy
Term. Reduced paid-up Survival Benefit in Income variant is calculated as per the formula given below

(𝑇𝑜𝑡𝑎𝑙 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒 𝑥 𝐺𝑢𝑎𝑟𝑎𝑛𝑡𝑒𝑒𝑑 𝐼𝑛𝑐𝑜𝑚𝑒)
Reduced Paid-up Maturity Benefit:
Lump sum Variant:
On survival of the Life Assured to the Policy Maturity Date and if the Policy is not surrendered, reduced paid up Maturity
Benefit will be paid as a lump sum on Policy Maturity Date as a per the formula given below :

𝑥 𝑀𝑎𝑡𝑢𝑟𝑖𝑡𝑦 𝐵𝑒𝑛𝑒𝑓𝑖𝑡
𝑇𝑜𝑡𝑎𝑙 𝑛𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑦𝑎𝑏𝑙𝑒
Page 11 of 28
Income Variant:
On survival of the Life Assured to the Policy Maturity Date and if the Policy is not surrendered, reduced paid up Maturity
Benefit will be paid as a lump sum amount on Policy Maturity Date. This amount will be equal to Total Premiums Paid by
the Policyholder during Policy Term.
A reduced paid-up Policy may be surrendered any time before Policy Maturity Date provided the Policy has not been
terminated earlier.
D.3.2. Surrender the Policy
For Policies with limited pay if at least 2 full years’ Premiums have been paid, the Policy can be surrendered. For single
Premium Policies, the Policy can be surrendered anytime during the Policy Term. The Policy cannot be surrendered after
the death of the Life Assured and can only be surrendered during the Policy Term. Upon payment of the Surrender Value,
the Policy shall stand terminated with no further Benefits payable under the Policy and the Company shall be relieved and
discharged from all obligations under this Policy thereafter.
The Surrender Value is payable immediately on Surrender and the Policy shall be terminated upon payment of Surrender
Value.
D.3.2.1. Surrender Value
The Policy acquires a Surrender Value which is higher of Guaranteed Surrender Value (GSV) or Special Surrender Value
(SSV).
D.3.2.2. Guaranteed Surrender Value (GSV):
D.3.2.2.1 For Single pay:
The Policy will acquire a Guaranteed Surrender Value (GSV) at any time during the Policy Term.
The Guaranteed Surrender Value will be derived as following subject to minimum value of 0:
• GSV Factor * Total Premiums paid less survival benefits paid, if any
For Limited Pay:
The Policy will acquire a Guaranteed Surrender Value (GSV) if at least 2 full years’ Premiums have been paid. The Guaranteed
Surrender Value is calculated as following subject to minimum value of zero
 GSV Factor multiplied by Total Premiums Paid excluding Underwriting Extra Premium, if any, less
 Survival Benefit already paid till date of Surrender, if any
The GSV factors increase with the Policy duration and are provided in the table below:
For Lump Sum Variant :
Premium Limited Pay – 6 Limited Pay – 8 Limited Pay – 10

Single Premium
Payment Term years years years
Policy Year /
12 15 12 15 12 15 12 15
Policy Term
1 75% 75% 0% 0% 0% 0% 0% 0%
2 75% 75% 30% 30% 30% 30% 30% 30%
3 75% 75% 35% 35% 35% 35% 35% 35%
4 90% 90% 50% 50% 50% 50% 50% 50%
5 90% 90% 50% 50% 50% 50% 50% 50%
Page 12 of 28
6 90% 90% 50% 50% 50% 50% 50% 50%

7 90% 90% 50% 50% 50% 50% 50% 50%
8 90% 90% 60% 55% 60% 55% 60% 55%
9 90% 90% 70% 60% 70% 60% 70% 60%
10 90% 90% 80% 65% 80% 65% 80% 65%
11 90% 90% 90% 75% 90% 75% 90% 75%
12 90% 90% 90% 80% 90% 80% 90% 80%
13 NA 90% NA 85% NA 85% NA 85%
14 NA 90% NA 90% NA 90% NA 90%
15 NA 90% NA 90% NA 90% NA 90%
For Income Variant:
Prem
ium
Paym 5 6 7 8 10 12 5 6 7 8 10 12 5 6 7 8 10 12 5 6 7
ent
Term
Polic
y
Year
/ 26 27 28 29 31 33 31 32 33 34 36 38 36 37 38 39 41 43 41 42 43
Polic
y
Term
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1
% % % % % % % % % % % % % % % % % % % % %
30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
2
% % % % % % % % % % % % % % % % % % % % %
35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35
3
% % % % % % % % % % % % % % % % % % % % %
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
4
% % % % % % % % % % % % % % % % % % % % %
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
5
% % % % % % % % % % % % % % % % % % % % %
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
6
% % % % % % % % % % % % % % % % % % % % %
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
7
% % % % % % % % % % % % % % % % % % % % %
50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50 50
8
% % % % % % % % % % % % % % % % % % % % %
55 55 55 55 50 50 55 55 55 55 50 50 55 55 55 55 50 55 55 55 55
9
% % % % % % % % % % % % % % % % % % % % %
55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55
10
% % % % % % % % % % % % % % % % % % % % %
55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55
11
% % % % % % % % % % % % % % % % % % % % %
55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55 55
12
% % % % % % % % % % % % % % % % % % % % %
60 60 60 60 55 55 60 60 60 60 55 55 60 60 60 60 55 60 60 60 60
13
% % % % % % % % % % % % % % % % % % % % %
60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60
14
% % % % % % % % % % % % % % % % % % % % %
Page 13 of 28
60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60
15
% % % % % % % % % % % % % % % % % % % % %
60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60 60
16
% % % % % % % % % % % % % % % % % % % % %
65 65 65 65 60 60 65 65 65 65 60 60 65 65 65 65 60 65 65 65 65
17
% % % % % % % % % % % % % % % % % % % % %
65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65
18
% % % % % % % % % % % % % % % % % % % % %
65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65 65
19
% % % % % % % % % % % % % % % % % % % % %
70 70 70 65 65 65 70 70 70 65 65 65 70 70 70 65 65 65 70 70 70
20
% % % % % % % % % % % % % % % % % % % % %
70 70 70 70 65 65 70 70 70 70 65 65 70 70 70 70 65 70 70 70 70
21
% % % % % % % % % % % % % % % % % % % % %
70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70
22
% % % % % % % % % % % % % % % % % % % % %
80 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70 70
23
% % % % % % % % % % % % % % % % % % % % %
85 75 75 70 70 70 75 75 75 70 70 70 75 75 75 70 70 70 75 75 75
24
% % % % % % % % % % % % % % % % % % % % %
90 75 75 75 70 70 75 75 75 75 70 70 75 75 75 75 70 75 75 75 75
25
% % % % % % % % % % % % % % % % % % % % %
90 90 75 75 75 75 75 75 75 75 75 75 75 75 75 75 75 75 75 75 75
26
% % % % % % % % % % % % % % % % % % % % %
90 90 90 80 80 80 80 80 75 75 75 80 80 80 75 75 75 80 80 80
27 NA
% % % % % % % % % % % % % % % % % % % %
90 90 80 80 85 80 80 75 75 75 80 80 80 75 75 75 80 80 80
28 NA NA
% % % % % % % % % % % % % % % % % % %
90 85 90 80 80 80 75 75 80 80 80 80 75 80 80 80 80
29 NA NA NA 90
% % % % % % % % % % % % % % % % %
90 90 80 80 80 80 80 80 80 80 80 80 80 80 80 80 80
30 NA NA NA NA
% % % % % % % % % % % % % % % % %
90 90 90 90 85 80 80 80 85 85 85 80 80 80 85 85 85
31 NA NA NA NA
% % % % % % % % % % % % % % % % %
90 90 90 90 80 80 85 85 85 80 80 80 85 85 85
32 NA NA NA NA NA NA
% % % % % % % % % % % % % % %
90 90 80 80 85 85 85 85 80 85 85 85 85
33 NA NA NA NA NA NA NA 90
% % % % % % % % % % % % %
90 85 85 85 85 85 85 85 85 85 85
34 NA NA NA NA NA NA NA NA NA 90
% % % % % % % % % % %
90 90 90 90 90 85 85 85 90 90 90
35 NA NA NA NA NA NA NA NA NA NA
% % % % % % % % % % %
90 90 90 90 90 85 85 85 90 90 90
36 NA NA NA NA NA NA NA NA NA NA
% % % % % % % % % % %
90 90 90 90 85 90 90 90 90
37 NA NA NA NA NA NA NA NA NA NA NA NA
% % % % % % % % %
90 90 90 90 90 90 90 90
38 NA NA NA NA NA NA NA NA NA NA NA NA NA
% % % % % % % %
90 90 90 90 90 90
39 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA
% % % % % %
90 90 90 90 90
40 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA
% % % % %
90 90 90 90 90
41 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA
% % % % %
90 90 90
42 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA
% % %
Page 14 of 28
90 90
43 NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA
% %
D.3.2.3. Special Surrender Value:
The Policy will acquire a Special Surrender Value (SSV) if at least 2 full years’ Premiums have been paid for limited pay
and for single Premium Policies, at any time during the Policy Term,
The Special Surrender Value will be quoted only on receipt of a Surrender request which shall be determined by the
Company from time to time subject to prior approval of IRDAI and is not guaranteed.
D.4. Policy Loan:
For Policies with limited pay at any time if at least two full years’ Premiums have been paid and for single Premium
Policies, anytime during the Policy Term, the Policyholder may obtain a loan on the sole security of the Policy and on its
proper assignment to the Company. The maximum loan amount that will be advanced at any one time or more than
one time shall not exceed 80% of the available Surrender Value at that point of time and provided that the amount of
the loan is not less than Rs.1,000. The interest rate charged shall be determined by the Company from time to time.
The interest rate charged shall be determined by the Company from time to time. The current interest rate on loan is
9.50% p.a. The interest rate on loan shall be calculated as the Average Annualised 10-year benchmark G-Sec Yield
(over last 6 months & rounded up to the nearest 50 bps) + 2%. The interest rate shall be reviewed half-yearly and any
change in the interest rate shall be effective from 25th February and 25th August each year. In case upon review the
interest rate is revised, the same shall apply until next revision. The source of 10-year benchmark G-sec yield shall be
RBI Negotiated Dealing System-Order Matching segment (NDS-OM). Any change to the basis of determination of interest
rate can be made only after prior approval of the Authority.
Any fresh loan within the permissible limits will be the difference between maximum permissible loan amount and any
outstanding loans including accumulated interest, if any. All outstanding loan and interest thereon shall be deducted from
any Benefits payable under this Policy.
In case of other than In-Force or fully paid-up Policies, if at any point of time, the outstanding loan along with outstanding
accrued interest exceeds the surrender value payable under this Policy, the company reserves the right to foreclose this
policy, after giving intimation and reasonable opportunity to the Policyholder to continue the policy.
D.5. Issuance of Duplicate Policy:
In the event if the Policyholder loses/misplaces /destroys the original Policy bond, the Policyholder shall immediately inform the
Company. The Company after obtaining satisfactory evidence shall issue duplicate Policy by collecting necessary charges not
exceeding INR 250.
Page 15 of 28
PART E
All the applicable Charges, Fund Name, Fund Options etc. (Applicable especially for ULIP Policies)
E.1. Not Applicable as this is a non-linked individual product.
Page 16 of 28
PART F
General Terms and Conditions
F.1. Fraud and Misstatement:
In issuing this Policy, the Company has relied on, and would rely on, accuracy and completeness of the information provided
by the Policyholder/Life Assured and any other declarations or statements made or as may be made hereafter, by the
Policyholder/Life Assured.
In case of fraud or misstatement, the Policy shall be treated in accordance with the provisions of Section 45 of the Insurance
Act, 1938 as amended from time to time.
[A Leaflet containing the simplified version of the provisions of Section 45 is enclosed as Annexure III for
reference]
F.2. Admission of Age
The Age of the Life Assured has been admitted on the basis of the declaration made by the Policyholder/Life Assured in the
Proposal form and/or in any document/statement based on which this Policy has been issued. If the Age of the Life Assured
is found to be different from that declared, the Company may, adjust the Premiums and/or the Benefits under this Policy
and/or recover the applicable balance amounts, if any, as it deems fit. This Policy shall however become void from
commencement, if the Age of the Life Assured at the Policy Commencement Date is found to be higher than the maximum
or lower than the minimum entry Age that was permissible under this Policy at the time of issue and the Company shall
return the Premiums paid subject to deduction of a proportionate risk Premium for the period of insurance cover in addition
to the expenses incurred on medical examination (if any) and stamp duty charges.
F.3. Assignment:
Assignment should be in accordance with provisions of Section 38 of the Insurance Act 1938 as amended from time to time.
[A Leaflet containing the simplified version of the provisions of Section 38 is enclosed as Annexure I for
reference].
F.4. Nomination:
Nomination should be in accordance with provisions of Section 39 of the Insurance Act 1938 as amended from time to time.
[A Leaflet containing the simplified version of the provisions of Section 39 is enclosed as Annexure II for
reference]
F.5. Review, revision:
The Company reserves the right to review, revise, delete and/ or alter any of the terms and conditions of this Policy, including
without limitation the Benefits, the Premiums with the prior approval of IRDAI.
F.6. Release and discharge:
The Policy will terminate automatically on payment of the refund from Free Look cancellation, Surrender Value, Death Benefit
or the Maturity Benefits, on Lapse of the Policy or on happening of events that the Policy states specifically that the Policy
shall terminate, as the case may be, and the Company will be relieved and discharged from all obligations under this Policy
thereafter.
F.7. Taxes, duties and levies and disclosure of information:
The Company shall deduct the applicable taxes in accordance with the prevailing provisions of the tax laws in India. All
premiums and benefits payable under this policy are subject to applicable taxes, cess, etc which shall be paid by the
Page 17 of 28
Policyholder along with the benefits or premiums. The Policyholder will be liable to pay all applicable taxes as levied by the
Government of India/ Statutory Authorities of India from time to time.
F.8. Notice by the Company under the Policy:
Any of the notices required to be issued in terms of this Policy may be issued, either by issuing individual notices to the
Policyholder, including by electronic mail and/or facsimile, or by issuing a general notice, including by publishing such notices
in newspapers and/or on the Company’s website.
Please communicate any changes in your mailing address or any other communication details as soon as possible. This will
enable us to serve you better.
F.9. Entire Contract:
This Policy comprises of the terms and conditions set forth in this Policy Document, the Policy Schedule, and the
endorsements, if any, made on or applicable to this Policy, which shall form an integral part and the entire contract evidenced
by this Policy. The liability of the Company is at all times subject to the terms and conditions of this Policy and the
endorsements made from time to time.
F.10. Risk Factors
This is a Non-Linked, Non-Participating individual Life Insurance Savings Product. HDFC Life Insurance Company Limited is
only the name of the Insurance Company and HDFC Life Guaranteed Wealth Plus is only the name of the product and does
not in any way indicate the quality of the product, its future prospects or returns.
F.11. Governing Law and Jurisdiction:
This Policy shall be governed by and interpreted in accordance with the laws of India. All actions, suits and proceedings
under this Policy shall be subject to the exclusive jurisdiction of the courts in India.
F.12. Death Benefit for Minor Life:
If Age of the Life Assured is greater than or equal to 12 years, the risk will commence immediately from the Risk
Commencement Date. If the Age of Life Assured is less than 12 years, the risk will commence under the Policy (that is full
death benefit will become payable on death of Life Assured) on the last day of second Policy Year. If the Age of Life Assured
is less than 12 years and if the Life Assured dies before the last day of the second Policy Year, the Death Benefit shall be
restricted to refund of Premiums without interest.
F.13. Suicide Exclusion:
In case of death of the Life Assured due to suicide within 12 months from the Date of Commencement of Risk under the
Policy or from the date of Revival of the Policy, as applicable, the nominee or beneficiary shall be entitled to at least 80% of
the Total Premiums Paid till the date of death or Surrender Value available as on the date of death whichever is higher,
provided the policy is In Force.
F.14. Requirements for death claims
In the event of a claim for Death Benefit arising under this Policy, the Eligible Person shall intimate to the Company in
writing of the claim and provide the following documents to the Company to enable the Company to process the claim:
F.14.1. In case of death claims, except death claims arising out of accidents or unnatural deaths
(i) Death Certificate, in original, issued by the competent authority;

(ii) Policy Document, in original;
(iii) Identification proof (bearing photo) of person receiving the Benefit and the Life Assured.
(iv) Medical treatment records (discharge summary / death summary, investigation reports, etc.) if Life Assured has
taken treatment for illness leading to his/her death.
(v) Bank account details of the claimant along with IFSC code (payment would be made vide NEFT only)
Page 18 of 28
F.14.2. In case of death claims arising out of accidents or unnatural deaths
(i) Death Certificate, in original, issued by the competent authority;

(ii) Policy Document, in original;
(iii) Identification proof (bearing photo) of person receiving the Benefit and the Life Assured.
(iv) First Information Report, Inquest and the Final Investigation Report thereof, duly attested by concerned
jurisdictional Police Official.
(v) Post Mortem Report duly attested by the concerned officials.
(vi) Bank account details of the claimant along with IFSC code (payment would be made vide NEFT only)
Notwithstanding anything contained in Clause F.14.1 and F.14.2 above, depending upon the cause or nature of the claim,
the Company reserves the right to call for any other and/or additional documents or information, including
documents/information concerning the title of the person claiming the Death Benefit under this Policy, to the satisfaction of
the Company, for processing of the claim.
The claim is required to be intimated to the Company within a period of 90 days from the date of death, to treat the same
as a valid claim. However, delay in intimation of claim or submission of documents for the reasons beyond the control of the
insured/claimant may be condoned by the Company.
F.15. Requirements for maturity claims: In case of maturity claims,
(i) Original Policy Document; and

(ii) Discharge Form
(iii) Self-attested ID Proof, and
(iv) Bank account details along with IFSC code (payment would be made vide NEFT only) in case there is a change in
the bank details already provided.
For payment of Survival Benefit, requirements specified in (iii) & (iv) above need to be furnished.
F.16. Policy on the Life of the Minor:
F.16.1. Vesting of the Policy: If the Policy is issued on the life of a minor and if Auto vesting is as specified in Policy
Schedule, the Policy will vest on him/her on his/her attainment of Age of majority and on such vesting, the Company will
recognize him/her to be the holder of the Policy.
Page 19 of 28
PART G
Grievance Redressal Mechanism, List of Ombudsman and Other Annexures
Grievance Redressal Process
(i) The customer can contact us on the below mentioned address or at any of our branches in case of any complaint/ grievance:
Grievance Redressal Officer
HDFC Life Insurance Company Limited
11th Floor, Lodha Excelus, Apollo Mills Compound,
N. M. Joshi Marg, Mahalaxmi, Mumbai, Maharashtra - 400011
Helpline number: 022-68446530 (STD charges apply)
E-mail: service@hdfclife.com
(ii) All grievances (Service and sales) received by the Company will be responded to within the prescribed regulatory Turn Around
Time (TAT) of 15 days.
(iii) Written request or email from the registered email id is mandatory.
(iv) If required, we will investigate the complaints by taking inputs from the customer over the telephone or through personal
meetings.
(v) We will issue an acknowledgement letter to the customer within 3 working days of the receipt of complaint.
(vi) The acknowledgement that is sent to the customer has the details of the complaint number, the Policy number and the
Grievance Redressal Officer’s name who will be handling the complaint of the customer.
(vii) If the customer’s complaint is addressed within 3 days, the resolution communication will also act as the acknowledgment of
the complaint.
(viii) The final letter of resolution will offer redressal or rejection of the complaint along with the appropriate reason for the same.
(ix) In case the customer is not satisfied with the decision sent to him or her, he or she may contact our Grievance Redressal
Officer within 8 weeks of the receipt of the communication at any of the touch points mentioned in the document, failing
which, we will consider the complaint to be satisfactorily resolved.
(x) The following is the escalation matrix in case there is no response within the prescribed timelines or if you are not satisfied
with the response. The number of days specified in the below- mentioned escalation matrix will be applicable from the date
of escalation.
Response
Level Designation Email ID Address
Time
Sr. Manager OR 11th Floor,
Associate Vice 10 working Lodha Excelus,
1st Level escalation1@hdfclife.in
President – Customer days Apollo Mills
Relations Compound, N M
2nd Level (for Vice President Joshi Marg ,
7 working
response not received OR Sr. Vice President escalation2@hdfclife.in Mahalakshmi,
days
from Level 1) – Customer Relations Mumbai 400011
You are requested to follow the aforementioned matrix to receive satisfactory response from us.
(xi) If you are not satisfied with the response or do not receive a response from us within 15 days, you may approach the Grievance
Cell of IRDAI on the following contact details:
 IRDAI Grievance Call Centre (IGCC) TOLL FREE NO: 155255/ 18004254732
 Email ID: complaints@irdai.gov.in
 Online- You can register your complaint online at http://www.igms.irdai.gov.in/
 Address for communication for complaints by fax/paper:
General Manager
Consumer Affairs Department – Grievance Redressal Cell
Insurance Regulatory and Development Authority of India
Sy No. 115/1, Financial District,
Nanakramguda, Gachibowli,
Hyderabad – 500 032
Page 20 of 28
2. In the event you are dissatisfied with the response provided by us, you may approach the Insurance Ombudsman in your
region. The details of the existing offices of the Insurance Ombudsman are provided below. You are requested to refer to the
IRDAI website at “www.irdai.gov.in” for the updated details.
a. Details and addresses of Insurance Ombudsman
Office of the
Contact Details Areas of Jurisdiction
Ombudsman
Office of the Insurance Ombudsman,
Jeevan Prakash Building, 6th floor,
Gujarat,
Tilak Marg, Relief Road,
AHMEDABAD Dadra & Nagar Haveli,
Ahmedabad – 380 001.
Daman and Diu.
Tel.: 079 - 25501201/02/05/06
Email: bimalokpal.ahmedabad@cioins.co.in
Janak Vihar Complex, 2nd Floor,
6, Malviya Nagar, Opp. Airtel Office,
Near New Market, Madhya Pradesh
BHOPAL
Bhopal – 462 003. Chattisgarh.
Tel.: 0755 - 2769201 / 2769202
Fax: 0755 - 2769203
Email: bimalokpal.bhopal@cioins.co.in
62, Forest park,
Bhubneshwar – 751 009.
BHUBANESHWAR Orissa.
Tel.: 0674 - 2596461 /2596455
Fax: 0674 - 2596429
Email: bimalokpal.bhubaneswar@cioins.co.in
Jeevan Soudha Building,PID No. 57-27-N-19
Ground Floor, 19/19, 24th Main Road,
BENGALURU JP Nagar, Ist Phase, Karnataka.
Bengaluru – 560 078.
Tel.: 080 - 26652048 / 26652049
Email: bimalokpal.bengaluru@cioins.co.in
Punjab,
S.C.O. No. 101, 102 & 103, 2nd Floor,
Haryana(excluding Gurugram, Faridabad,
Batra Building, Sector 17 – D,
CHANDIGARH Sonepat and Bahadurgarh)
Chandigarh – 160 017.
Himachal Pradesh, Union Territories of
Tel.: 0172 - 2706196 / 2706468
Jammu & Kashmir,
Fax: 0172 - 2708274
Ladakh & Chandigarh.
Email: bimalokpal.chandigarh@cioins.co.in
Fatima Akhtar Court, 4th Floor, 453,
Tamil Nadu,
Anna Salai, Teynampet,
Tamil Nadu
CHENNAI CHENNAI – 600 018.
PuducherryTown and
Tel.: 044 - 24333668 / 24335284
Karaikal (which are part of Puducherry).
Fax: 044 - 24333664
Email: bimalokpal.chennai@cioins.co.in
2/2 A, Universal Insurance Building,
Delhi &
Asaf Ali Road,
DELHI Following Districts of Haryana - Gurugram,
New Delhi – 110 002.
Faridabad, Sonepat & Bahadurgarh.
Tel.: 011 - 23232481/23213504
Email: bimalokpal.delhi@cioins.co.in
Office of the Insurance Ombudsman, Assam,
GUWAHATI
Jeevan Nivesh, 5th Floor, Meghalaya,
Page 21 of 28
Nr. Panbazar over bridge, S.S. Road, Manipur,

Guwahati – 781001(ASSAM). Mizoram,
Tel.: 0361 - 2632204 / 2602205 Arunachal Pradesh,
Email: bimalokpal.guwahati@cioins.co.in Nagaland and Tripura.
6-2-46, 1st floor, "Moin Court",
Lane Opp. Saleem Function Palace, Andhra Pradesh,
A. C. Guards, Lakdi-Ka-Pool, Telangana,
HYDERABAD
Hyderabad - 500 004. Yanam and
Tel.: 040 - 23312122 part of Union Territory of Puducherry.
Fax: 040 - 23376599
Email: bimalokpal.hyderabad@cioins.co.in
Jeevan Nidhi – II Bldg., Gr. Floor,
Bhawani Singh Marg,
JAIPUR Jaipur - 302 005. Rajasthan.
Tel.: 0141 - 2740363
Email: bimalokpal.jaipur@cioins.co.in

2nd Floor, Pulinat Bldg.,
Kerala,
Opp. Cochin Shipyard, M. G. Road,
Lakshadweep,
ERNAKULAM Ernakulam - 682 015.
Mahe-a part of Union Territory of
Tel.: 0484 - 2358759 / 2359338
Puducherry.
Fax: 0484 - 2359336
Email: bimalokpal.ernakulam@cioins.co.in
Hindustan Bldg. Annexe, 4th Floor,
4, C.R. Avenue, West Bengal,
KOLKATA KOLKATA - 700 072. Sikkim,
Tel.: 033 - 22124339 / 22124340 Andaman & Nicobar Islands.
Fax : 033 - 22124341
Email: bimalokpal.kolkata@cioins.co.in
Districts of Uttar Pradesh :
Lalitpur, Jhansi, Mahoba, Hamirpur,
Banda, Chitrakoot, Allahabad, Mirzapur,
Office of the Insurance Ombudsman, Sonbhabdra, Fatehpur, Pratapgarh,
6th Floor, Jeevan Bhawan, Phase-II, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur,
Nawal Kishore Road, Hazratganj, Lucknow, Unnao, Sitapur, Lakhimpur,
LUCKNOW Lucknow - 226 001. Bahraich, Barabanki, Raebareli, Sravasti,
Tel.: 0522 - 2231330 / 2231331 Gonda, Faizabad, Amethi, Kaushambi,
Fax: 0522 - 2231310 Balrampur, Basti, Ambedkarnagar,
Email: bimalokpal.lucknow@cioins.co.in Sultanpur, Maharajgang, Santkabirnagar,
Azamgarh, Kushinagar, Gorkhpur, Deoria,
Mau, Ghazipur, Chandauli, Ballia,
Sidharathnagar.
3rd Floor, Jeevan Seva Annexe,
S. V. Road, Santacruz (W),
Goa,
Mumbai - 400 054.
MUMBAI Mumbai Metropolitan Region
Tel.:
excluding Navi Mumbai & Thane.
69038821/23/24/25/26/27/28/28/29/30/31
Fax: 022 - 26106052
Email: bimalokpal.mumbai@cioins.co.in
Office of the Insurance Ombudsman, State of Uttaranchal and the following
Bhagwan Sahai Palace Districts of Uttar Pradesh:
NOIDA
4th Floor, Main Road, Agra, Aligarh, Bagpat, Bareilly, Bijnor,
Naya Bans, Sector 15, Budaun, Bulandshehar, Etah, Kanooj,
Page 22 of 28
Distt: Gautam Buddh Nagar, Mainpuri, Mathura, Meerut, Moradabad,

U.P-201301. Muzaffarnagar, Oraiyya, Pilibhit, Etawah,
Tel.: 0120-2514252 / 2514253 Farrukhabad, Firozbad,
Email: bimalokpal.noida@cioins.co.in Gautambodhanagar, Ghaziabad, Hardoi,
Shahjahanpur, Hapur, Shamli, Rampur,
Kashganj, Sambhal, Amroha, Hathras,
Kanshiramnagar, Saharanpur.
2nd Floor, Lalit Bhawan,
PATNA Bailey Road, Bihar,
Patna 800 001. Jharkhand.
Tel.: 0612-2547068
Email: bimalokpal.patna@cioins.co.in
Jeevan Darshan Bldg., 3rd Floor,
C.T.S. No.s. 195 to 198, Maharashtra,
PUNE N.C. Kelkar Road, Narayan Peth, Area of Navi Mumbai and Thane
Pune – 411 030. excluding Mumbai Metropolitan Region.
Tel.: 020-41312555
Email: bimalokpal.pune@cioins.co.in
b. Insurance Ombudsman-
1) The Ombudsman shall receive and consider complaints alleging deficiency in performance required of an insurer (including
its agents and intermediaries) or an insurance broker, on any of the following grounds—
(a) delay in settlement of claims, beyond the time specified in the regulations, framed under the Insurance Regulatory and
Development Authority of India Act, 1999;
(b) any partial or total repudiation of claims by the life insurer, general insurer or the health insurer;
(c) disputes over Premium paid or payable in terms of insurance Policy;
(d) misrepresentation of Policy terms and conditions at any time in the Policy document or Policy contract;
(e) legal construction of insurance policies in so far as the dispute relates to claim;
(f) Policy servicing related grievances against insurers and their agents and intermediaries;
(g) issuance of life insurance Policy, general insurance Policy including health insurance Policy which is not in conformity with the
proposal form submitted by the proposer;
(h) non-issuance of insurance Policy after receipt of Premium in life insurance and general insurance including health insurance;
and
(i) any other matter arising from non-observance of or non-adherence to the provisions of any regulations made by the Authority
with regard to protection of policyholders’ interests or otherwise, or of any circular, guideline or instruction issued by the
Authority, or of the terms and conditions of the policy contract, insofar as such matter relates to issues referred to in clauses
(a) to (h).
c. Manner in which complaint is to be made -

1) Any person who has a grievance against an insurer or insurance broker, may himself or through his legal heirs, nominee or
assignee, make a complaint in writing to the Insurance Ombudsman within whose territorial jurisdiction the branch or office
of the insurer or the insurance broker, as the case may be, complained against or the residential address or place of residence
of the complainant is located.
2) The complaint shall be in writing, duly signed or made by way of electronic mail or online through the website of the Council
for Insurance Ombudsmen, by the complainant or through his legal heirs, nominee or assignee and shall state clearly the
name and address of the complainant, the name of the branch or office of the insurer against whom the complaint is made,
the facts giving rise to the complaint, supported by documents, the nature and extent of the loss caused to the complainant
and the relief sought from the Insurance Ombudsman.
3) No complaint to the Insurance Ombudsman shall lie unless—
(a) the complainant has made a representation in writing or through electronic mail or online through website of the insurer or
insurance broker concerned to the insurer or insurance broker, as the case may be, named in the complaint and—
i. either the insurer or insurance broker, as the case may be, had rejected the complaint; or
Page 23 of 28
ii. the complainant had not received any reply within a period of one month after the insurer or insurance broker, as the case
may be, received his representation; or
iii. the complainant is not satisfied with the reply given to him by the insurer or insurance broker, as the case may be;
(b) The complaint is made within one year—
i. after the order of the insurer or insurance broker, as the case may be, rejecting the representation is received; or
ii. after receipt of decision of the insurer or insurance broker, as the case may be, which is not to the satisfaction of the
complainant;
iii. after expiry of a period of one month from the date of sending the written representation to the insurer or insurance broker,
as the case may be, if the insurer named fails to furnish reply to the complainant.
4) The Ombudsman shall be empowered to condone the delay in such cases as he may consider necessary, after calling for
objections of the insurer or insurance broker, as the case may be, against the proposed condonation and after recording
reasons for condoning the delay and in case the delay is condoned, the date of condonation of delay shall be deemed to be
the date of filing of the complaint, for further proceedings under these rules.
5) No complaint before the Insurance Ombudsman shall be maintainable on the same subject matter on which proceedings are
pending before or disposed of by any court or consumer forum or arbitrator.
The Council for Insurance Ombudsmen shall develop a complaints management system, which shall include an online platform
developed for the purpose of online submission and tracking of the status of complaints made under rule 14 of Insurance
Ombudsman Rules, 2017.
Page 24 of 28
ANNEXURE – I
Section 38 - Assignment and Transfer of Insurance Policies:
Provisions regarding assignment or transfer of a Policy in terms of Section 38 of the Insurance Act, 1938, as amended from time
to time are as follows:
01. This Policy may be transferred/assigned, wholly or in part, with or without consideration.
02. An Assignment may be effected in a Policy by an endorsement upon the Policy itself or by a separate instrument under notice
to the Insurer.
03. The instrument of assignment should indicate the fact of transfer or assignment and the reasons for the assignment or transfer,
antecedents of the assignee and terms on which assignment is made.
04. The assignment must be signed by the transferor or assignor or duly authorized agent and attested by at least one witness.
05. The transfer of assignment shall not be operative as against an insurer until a notice in writing of the transfer or assignment
and either the said endorsement or instrument itself or copy there of certified to be correct by both transferor and transferee or
their duly authorised agents have been delivered to the insurer.
06. Fee to be paid for assignment or transfer can be specified by the Authority through Regulations.
07. On receipt of notice with fee, the insurer should Grant a written acknowledgement of receipt of notice. Such notice shall be
conclusive evidence against the insurer of duly receiving the notice.
08. If the insurer maintains one or more places of business, such notices shall be delivered only at the place where the Policy is
being serviced.
09. The insurer may accept or decline to act upon any transfer or assignment or endorsement, if it has sufficient reasons to believe
that it is
a. not bonafide or
b. not in the interest of the Policyholder or
c. not in public interest or
d. is for the purpose of trading of the insurance Policy.
10. Before refusing to act upon endorsement, the Insurer should record the reasons in writing and communicate the same in
writing to Policyholder within 30 days from the date of Policyholder giving a notice of transfer or assignment.
11. In case of refusal to act upon the endorsement by the Insurer, any person aggrieved by the refusal may prefer a claim to
IRDAI within 30 days of receipt of the refusal letter from the Insurer.
12. The priority of claims of persons interested in an insurance Policy would depend on the date on which the notices of assignment
or transfer is delivered to the insurer; where there are more than one instruments of transfer or assignment, the priority will
depend on dates of delivery of such notices. Any dispute in this regard as to priority should be referred to Authority.
13. Every assignment or transfer shall be deemed to be absolute assignment or transfer and the assignee or transferee shall be
deemed to be absolute assignee or transferee, except
a. where assignment or transfer is subject to terms and conditions of transfer or assignment OR
b. where the transfer or assignment is made upon condition that
i. the proceeds under the Policy shall become payable to Policyholder or nominee(s) in the event of assignee or transferee dying
before the insured OR
ii. the insured surviving the term of the Policy
Such conditional assignee will not be entitled to obtain a loan on Policy or surrender the Policy. This provision will prevail
notwithstanding any law or custom having force of law which is contrary to the above position.
Page 25 of 28
14. In other cases, the insurer shall, subject to terms and conditions of assignment, recognize the transferee or assignee named
in the notice as the absolute transferee or assignee and such person
a. shall be subject to all liabilities and equities to which the transferor or assignor was subject to at the date of transfer or
assignment and
b. may institute any proceedings in relation to the Policy
c. obtain loan under the Policy or surrender the Policy without obtaining the consent of the transferor
or assignor or making him a party to the proceedings
15. Any rights and remedies of an assignee or transferee of a life insurance Policy under an assignment or transfer effected before
commencement of the Insurance Laws (Amendment) Act 2015 shall not be affected by this section.
[Disclaimer: This is not a comprehensive list of amendments. Policyholders are advised to refer to Section 38 of
the Insurance Act, 1938, as amended from time to time for complete and accurate details].
ANNEXURE – II
Section 39 – Nomination by Policyholder
Provisions regarding nomination of a Policy in terms of Section 39 of the Insurance Act, 1938, as amended from time to time are
as follows:
01. The Policyholder of a life insurance on his own life may nominate a person or persons to whom money secured by the Policy
shall be paid in the event of his death.
02. Where the nominee is a minor, the Policyholder may appoint any person to receive the money secured by the Policy in the
event of Policyholder’s death during the minority of the nominee. The manner of appointment is to be laid down by the insurer.
03. Nomination can be made at any time before the vesting of the Policy.
04. Nomination may be incorporated in the text of the Policy itself or may be endorsed on the Policy communicated to the
insurer and can be registered by the insurer in the records relating to the Policy.
05. Nomination can be cancelled or changed at any time before Policy matures, by an endorsement or a further endorsement or
a will as the case may be.
06. A notice in writing of Change or Cancellation of nomination must be delivered to the insurer for the insurer to be liable to
such nominee. Otherwise, insurer will not be liable if a bona fide payment is made to the person named in the text of the Policy
or in the registered records of the insurer.
07. Fee to be paid to the insurer for registering change or cancellation of a nomination can be specified by the Authority through
Regulations.
08. On receipt of notice with fee, the insurer should grant a written acknowledgement to the Policyholder of having registered a
nomination or cancellation or change thereof.
09. A transfer or assignment made in accordance with Section 38 shall automatically cancel the nomination except in case of
assignment to the insurer or other transferee or assignee for purpose of loan or against security or its reassignment after
repayment. In such case, the nomination will not get cancelled to the extent of insurer’s or transferee’s or assignee’s interest in
the policy. The nomination will get revived on repayment of the loan.
10. The right of any creditor to be paid out of the proceeds of any Policy of life insurance shall not be affected by the
nomination.
Page 26 of 28
11. In case of nomination by Policyholder whose life is insured, if the nominees die before the Policyholder, the proceeds are
payable to Policyholder or his heirs or legal representatives or holder of succession certificate.
12. In case nominee(s) survive the person whose life is insured, the amount secured by the Policy shall be paid to such
survivor(s).
13. Where the Policyholder whose life is insured nominates his

a. Parents, or
b. Spouse, or
c. Children, or
d. Spouse, and children
e. or any of them
the nominees are beneficially entitled to the amount payable by the insurer to the Policyholder unless it is proved that
Policyholder could not have conferred such beneficial title on the nominee having regard to the nature of his title.
14. If nominee(s) die after the Policyholder but before his share of the amount secured under the Policy is paid, the share of the
expired nominee(s) shall be payable to the heirs or legal representative of the nominee or holder of succession certificate of
such nominee(s).
15. The provisions of sub-section 7 and 8 (13 and 14 above) shall apply to all life insurance policies maturing for payment after
the commencement of Insurance Laws (Amendment) Act 2015.
16. If Policyholder dies after vesting but the proceeds and benefit of the Policy has not been paid to him because of his death,
his nominee(s) shall be entitled to the proceeds and benefit of the Policy.
17. The provisions of Section 39 are not applicable to any life insurance Policy to which Section 6 of Married Women’s Property
Act, 1874 applies or has at any time applied except where before or after Insurance Laws (Amendment) Act 2015, a nomination
is made in favour of spouse or children or spouse and children whether or not on the face of the Policy it is mentioned that it is
made under Section 39. Where nomination is intended to be made to spouse or children or spouse and children under Section 6
of MWP Act, it should be specifically mentioned on the Policy. In such a case only, the provisions of Section 39 will not apply.
Page 27 of 28
ANNEXURE – III
Section 45 – Policy shall not be called in question on the ground of misstatement after three years
Provisions regarding Policy not being called into question in terms of Section 45 of the Insurance Act, 1938, as amended from
time to time are as follows:
01. No Policy of Life Insurance shall be called in question on any ground whatsoever after expiry of 3 years from
a. the date of issuance of Policy or
b. the date of commencement of risk or
c. the date of revival of Policy or
d. the date of rider to the Policy
whichever is later.
02. On the ground of fraud, a Policy of Life Insurance may be called in question within 3 years from
a. the date of issuance of Policy or
b. the date of commencement of risk or
c. the date of revival of Policy or
d. the date of rider to the Policy
whichever is later.
For this, the insurer should communicate in writing to the insured or legal representative or nominee or assignees of insured, as
applicable, mentioning the ground and materials on which such decision is based.
03. Fraud means any of the following acts committed by insured or by his agent, with the intent to deceive the insurer or to induce
the insurer to issue a life insurance Policy:
a. The suggestion, as a fact of that which is not true and which the insured does not believe to be true;
b. The active concealment of a fact by the insured having knowledge or belief of the fact;
c. Any other act fitted to deceive; and
d. Any such act or omission as the law specifically declares to be fraudulent.
04. Mere silence is not fraud unless, depending on circumstances of the case, it is the duty of the insured or his agent keeping
silence to speak or silence is in itself equivalent to speak.
05. No Insurer shall repudiate a life insurance Policy on the ground of Fraud, if the Insured / claimant can prove that the
misstatement was true to the best of his knowledge and there was no deliberate intention to suppress the fact or that such
misstatement of or suppression of material fact are within the knowledge of the insurer. Onus of disproving is upon the
Policyholder, if alive, or claimant.
06. Life insurance Policy can be called in question within 3 years on the ground that any statement of or suppression of a fact
material to expectancy of life of the insured was incorrectly made in the proposal or other document basis which Policy was issued
or revived or rider issued. For this, the insurer should communicate in writing to the insured or legal representative or nominee or
assignees of insured, as applicable, mentioning the ground and materials on which decision to repudiate the Policy of life insurance
is based.
07. In case repudiation is on ground of misstatement and not on fraud, the Premium collected on Policy till the date of repudiation
shall be paid to the insured or legal representative or nominee or assignees of insured, within a period of 90 days from the date
of repudiation.
08. Fact shall not be considered material unless it has a direct bearing on the risk undertaken by the insurer. The onus is on insurer
to show that if the insurer had been aware of the said fact, no life insurance Policy would have been issued to the insured.
09. The insurer can call for proof of age at any time if he is entitled to do so and no Policy shall be deemed to be called in question
merely because the terms of the Policy are adjusted on subsequent proof of age of life insured. So, this Section will not be
applicable for questioning age or adjustment based on proof of age submitted subsequently.
Page 28 of 28

HDFC Life Guaranteed Wealth Plus 101N165V06 Policy Document

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HDFC Life Guaranteed Wealth Plus 101N165V06 Policy Document

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HDFC Life Guaranteed Wealth Plus – Terms and Conditions

(A Non-Linked Non-Participating Individual Life Insurance Savings Plan)

PART A: Covering Letter with Policy Schedule

Policy Number: __________________

Your <Policy Name> with Policy No. <Policy no.>

<< Designation of the Authorised Signatory >>

Your Financial Advisor Contact Details

Branch Address: <<Branch Address>>

A.1. Policy Preamble

A.2. Policy Schedule

Name of the Product: HDFC Life Guaranteed Wealth Plus

Risk Commencement Date

Policy Maturity Date

Auto Vesting if Life Assured is minor <<Yes/No>>

Variant Name <<Lump sum Variant / Income Variant>>

Frequency of Premium Payment <Annual> <Half – Yearly> <Monthly> <Single>

Guaranteed Income payout Mode <<Annually/ Half - Yearly / Quarterly / Monthly>>

Date of Last Installment Premium

Gender of Life Assured

Name of Nominee/(s) and relationship to Life Assured

Name of Appointee, If Nominee is Minor Relationship of

Important Terms and Definitions

40. “You”, “Your”, “He” and “She” refers to the Policyholder.

BENEFITS PAYABLE UNDER THIS POLICY

Entry Age Sum Assured on Death Multiple (X)

C.3. Survival Benefit

C.4. Rider Benefits:

C.5. Premium under this Policy:

C.6. Payment of Benefits:

C.7. Mode of payment of Benefits:

C.8. Grace Period:

POLICY SERVICING RELATED ASPECTS

D.1. Free Look Provisions:

D.2. Revival of the Policy:

D.2.1.1. This Policy has not been surrendered for cash;

D.3. Non-Forfeiture options:

Reduced paid-up value is not applicable for a single Premium Policy.

D.3.1. Reduced Paid-up Value

𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

Reduced Paid-up Survival Benefit

For Lump sum Variant – Not applicable

For Income Variant

𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

Reduced Paid-up Maturity Benefit:

Lump sum Variant:

𝑁𝑢𝑚𝑏𝑒𝑟 𝑜𝑓 𝑃𝑟𝑒𝑚𝑖𝑢𝑚𝑠 𝑝𝑎𝑖𝑑

D.3.2. Surrender the Policy

D.3.2.1. Surrender Value

D.3.2.2. Guaranteed Surrender Value (GSV):

D.3.2.2.1 For Single pay:

For Limited Pay:

For Lump Sum Variant :

Premium Limited Pay – 6 Limited Pay – 8 Limited Pay – 10

6 90% 90% 50% 50% 50% 50% 50% 50%

For Income Variant:

D.3.2.3. Special Surrender Value:

D.4. Policy Loan:

D.5. Issuance of Duplicate Policy:

E.1. Not Applicable as this is a non-linked individual product.

General Terms and Conditions

F.1. Fraud and Misstatement:

F.2. Admission of Age